Word: steepest
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Dates: during 1980-1989
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From January 1979 to January 1981, oil prices shot up approximately 150%, and the rise sent American consumer prices leaping at an annual rate of more than 12%, the steepest peacetime increase in more than 30 years. Since April of last year, though, petroleum prices, which had briefly gone to more than $41 per bbl. for high-quality crude, have declined slightly to approximately $33 per bbl. Moreover, in recent months prices have actually begun to slip somewhat on the unregulated spot market, where crude was last week selling for as little as $30 per bbl. As a result, consumer...
...food. The F.S.I, stands at 77%, more than triple the level that prevailed when Carter took office. Arresting as it is, however, Reagan's yardstick has no more genuine economic validity than redefining the consumer price index so as to include only those items that go up the steepest...
...Monday the Dow Jones industrial average plunged 18.17 points, its steepest drop in more than six months. But later in the week the index rallied to close at 950.68, about a 10-point rise from the week before. A key reason was that many investors rushed to buy oil stocks in expectation that the turmoil in the Persian Gulf would soon push up petroleum prices...
...cost of money soared; the prime rate for leading corporations rose from 15¼% to 20% by last April. The money supply then dropped precipitously, actually declining at an annual rate of 2.4% during the spring. At the same time, economic output dropped at a 9.6% annual rate, its steepest quarterly slump on record. Then in the summer, the Fed reversed course and began frantically pumping up the money stock. In the past three months, money growth has exploded at a 16.8% annual pace, and interest rates tumbled to a low of 11% in late July...
...steep economic downturn still continues. Figures released last week showed that the nation's business declined at an annual rate of 9.1% between April and June. And industrial production plunged 2.4% last month, matching May in the steepest such drop since January 1975, when the economy was struggling to climb out of the last recession...